RECORDER REPORT

KARACHI: Pakistan’s Oil Marketing Companies (OMCs) recorded sales of 1.2 million tons in March 2025, up 5 percent YoY and 7 percent MoM.

According to Topline securities, the MoM rise was due to a low base effect, while the YoY increase was supported by lower petrol and diesel prices compared to last year. This takes total sales for the first nine months of this fiscal year (9MFY25) to 11.77 million tons, reflecting a 4 percent YoY increase compared to 11.34 million tons in 9MFY24.

Excluding Furnace Oil (FO), sales in March 2025 were 1.16 million tons, reflecting a 5 percent YoY and 7 percent MoM rise. For 9MFY25, Ex-FO sales totaled 11.25 million tons, a 7 percent YoY rise.

Product wise, Motor Spirit (MS) sales saw a 1 percent YoY and 4 percent MoM rise to 577k tons in March 2025. Similarly, High-Speed Diesel (HSD) sales rose by 5 percent YoY and 14 percent MoM to 487k tons. FO sales for Mar 2025 rose 22 percent YoY and 2 percent MoM to 54k tons.

High Octane Blending Component (HOBC) sales continued to rise, hitting another all-time high of 35k tons. This surge was driven by discounted prices at selected petrol stations and a lower Petroleum Development Levy (PDL). However, the PDL on HOBC increased by Rs20/litre, effective April.

Company wise data showed that among listed entities, Attock Petroleum (APL) sales stood at 105K tons in Mar 2025, up 2 percent YoY and 3 percent MoM, primarily due to a 11 percent YoY and 14 percent MoM rise in HSD sales. APL’s market share stood at 8.48 percent in MS and 8.97 percent in HSD, up 5bps and 1bps from Feb 2025, respectively.

Pakistan State Oil (PSO) saw a fall of 14 percent YoY while up 9 percent MoM to 510K tons in Mar 2025. PSO’s market share in HSD and MS clocked in at 38.92 percent and 43.08 percent, up 148bps and 29bps MoM, respectively in Mar 2025. PSOs overall market share has risen to 41.87 percent in Mar 2025 up 55bps from Feb 2025.

Wafi Energy Pakistan Limited (WAFI) saw a fall of 7 percent YoY while up 5 percent MoM to 88K tons. HASCOL sales clocked in at 50k tons, up 95 percent YoY and 16 percent MoM.Government has set PDL collection target of Rs 1.28 trillion for FY25 of which Rs817 billion (64 percent) has been collected in 9MFY25.